Sensex gains 56 points in early trade
FACTORS TO WATCH
Day 1 of the RBI-ADB conference on managing capital flows. RBI deputy governor Subir Gokarn and H.R. Khan, as well as executive director Deepak Mohanty will attend the event.
C. Rangarajan, head of the Economic Advisory Council to the Prime Minister Manmohan Singh will speak at an event hosted by the Export-Import Bank of India and will address a press conference. (0530 GMT)
Finance Minister P. Chidambaram will be in Bangalore for a meeting with the chief ministers of South Zone states and chiefs of state-run banks and financial institutions.
INDIAN STOCKS TO WATCH
India is planning to announce the finalised amendments to the controversial rules on tax evasion for foreign investors in the next 7-10 days, Finance Minister P. Chidambaram said on Friday, without specifying the details of what will be announced.
Mergers and acquisitions (M&As) in the banking space may require clearance from fair market watchdog, Competition Commission of India (CCI), as well as the sector regulator, Reserve Bank of India (RBI), Business Standard reported, citing an unidentified key CCI official.
Hong Kong-based private equity firm NewQuest Capital Partners expects to invest about $140 million in India, hoping to capitalize on the so-called secondary opportunities in the country, said Amit Gupta, partner and head of the India business at NewQuest.
The ministry of coal has issued deallocation letters for eight coal blocks after a decision by the inter-ministerial group. Among companies affected by the deallocation were Grasim Industries, Gujarat Ambuja Cement, Electrotherm, and Kesoram Industries.
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